Highland Global Allocation Fund (NASDAQ:HGLB) Stock Price Down 0.1%

Highland Global Allocation Fund (NASDAQ:HGLB)’s stock price was down 0.1% during mid-day trading on Friday . The company traded as low as $7.63 and last traded at $7.67. Approximately 55,760 shares changed hands during trading, a decline of 27% from the average daily volume of 76,438 shares. The stock had previously closed at $7.68.

Highland Global Allocation Fund Stock Performance

The stock has a fifty day moving average of $7.49 and a 200-day moving average of $7.61.

Highland Global Allocation Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 23rd will be issued a dividend of $0.081 per share. The ex-dividend date is Monday, September 23rd. This represents a $0.97 dividend on an annualized basis and a dividend yield of 12.66%.

Insider Activity at Highland Global Allocation Fund

In related news, Director Ethan Powell purchased 6,750 shares of Highland Global Allocation Fund stock in a transaction that occurred on Friday, June 28th. The stock was purchased at an average cost of $7.47 per share, with a total value of $50,422.50. Following the completion of the transaction, the director now owns 6,750 shares of the company’s stock, valued at approximately $50,422.50. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 24.52% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Hartline Investment Corp acquired a new position in Highland Global Allocation Fund during the first quarter valued at approximately $116,000. Sovereign Financial Group Inc. boosted its position in Highland Global Allocation Fund by 6.2% during the first quarter. Sovereign Financial Group Inc. now owns 164,770 shares of the company’s stock valued at $1,262,000 after purchasing an additional 9,658 shares during the last quarter. Eagle Rock Investment Company LLC acquired a new stake in shares of Highland Global Allocation Fund in the first quarter valued at approximately $230,000. Quantedge Capital Pte Ltd lifted its position in shares of Highland Global Allocation Fund by 14.7% in the fourth quarter. Quantedge Capital Pte Ltd now owns 191,283 shares of the company’s stock valued at $1,503,000 after buying an additional 24,500 shares during the last quarter. Finally, Principal Securities Inc. acquired a new stake in shares of Highland Global Allocation Fund in the fourth quarter valued at approximately $269,000. 28.79% of the stock is owned by institutional investors and hedge funds.

Highland Global Allocation Fund Company Profile

Highland Global Allocation Fund is a closed-end fund designed to provide low correlation to U.S. equity market.

Thr fund applies global thematic investment style, pursuing investments that management team views as undervalued, built around high-conviction themes.